---
title: O.C.G.A. § 7-1-320. Definitions.
collection: code
id: 7-1-320
cite_as: O.C.G.A. § 7-1-320 (2025)
canonical_url: https://georgiacommons.org/code/7-1-320
md_url: https://georgiacommons.org/code/7-1-320.md
text_url: https://georgiacommons.org/code/7-1-320/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t7-t8-(v5)-2024-pdf.pdf?sfvrsn=6386add7_0#page=196
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: BANKING AND FINANCE / FINANCIAL INSTITUTIONS / BANKS AND TRUST COMPANIES / AFFILIATE TRANSFERS
---

# O.C.G.A. § 7-1-320. Definitions.

As used in this part, the term:

(1) “Affiliate transfer” means a transfer by which a bank or trust company delegates, assigns, or transfers to an affiliated trust company or to an affiliated bank which has received the required approvals from the appropriate regulatory authorities to exercise trust powers all of its rights, powers, privileges, accounts, and designations with respect to one or more of its various capacities as fiduciary.

(2) “Affiliated trust company” means a trust company which is affiliated with a bank. A trust company shall be considered an affiliate with a bank in accordance with the definition of such term set forth in paragraph (1) of Code Section 7-1-4. Such term shall also include an affiliated bank which has received the required approvals from the appropriate regulatory authorities to exercise trust powers.

(3) “Bank” means a corporation as defined in either paragraph (7) or (23) of Code Section 7-1-4 and having its principal place of business in Georgia.

(4) “Fiduciary” means a bank or trust company acting in such capacity as set forth in paragraph (20) of Code Section 7-1-4 or as further defined by regulations of the department.

(5) “Trust company” means a corporation as defined in paragraph (40) of Code Section 7-1-4 or a national bank having:

(A) Authority to conduct business only to the extent of its trust powers as provided in 12 U.S.C. Section 92a; and

(B) A principal place of business in Georgia.

## History

Code 1981, § 7-1-320, enacted by Ga. L. 1986, p. 1244, § 1; Ga. L. 1993, p. 915, § 1; Ga. L. 2024, p. 1052, § 1(a)(15)/SB 448, effective July 1, 2024.

## Law Reviews

For note on 1993 amendment of this Code section, see 10 Ga. St. U.L. Rev. 9 (1993).

## Amendments

The 2024 amendment, effective July 1, 2024, part of an Act to revise, modernize, and correct the Code, substituted “Such term” for “For the purposes of this part, the term affiliated trust company” at the beginning of the third sentence in paragraph (2).